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7 Ways to Overcome Initial Startup Challenges: Phone Accessory Business

It’s not easy to start a cell phone accessories business from scratch. You need to invest in inventory, find suppliers, and navigate the logistics of shipping and fulfillment. Cell phone stores are a dime a dozen, but the most successful ones have one thing in common: they know how to overcome initial startup challenges. Here’s what you need to do if you want your store to succeed.

1. Create business plan.

You need to figure out your costs and learn what resources are available to you. You need to plan the next steps before you can start booking sales. Do you know what supplies and technology you need? Do you know how much money it will take to start selling? No company starts by selling online. Be realistic about what you need to do and what you can afford. You should be working with real money, not virtual money. You can try crowdfunding if you don’t have the money for inventory or even building a lean-startup campaign to help get your products in the hands of customers. You can also look into buying sales or retail space. Depending on the product category, it could take you between three and nine months. Choose the right market.

2. Develop an online presence.

You don’t have to own a website, though. If you have a physical store, you can set up an online storefront and pay someone to maintain it for you. If you have no physical store, but have a following on social media, or are selling products on a website, you can sell them through email marketing. Raise money. It can be challenging to raise money if you’re not familiar with the business world, and even if you are familiar with it. To start off, you can go to a local bank, or a local venture capital firm. Or you can approach a local business owner and pitch him on the opportunity to invest in your business. Find sources of inventory. There are a lot of different products you can sell online, and you can even sell all of them.

3. Get your name out there.

 

Word-of-mouth is still an important way to get new customers, and many store owners don’t have the time or desire to build their own brand. Most stores start out with a branded store directory or simply invite customers to shop their online store. The time you spend networking is time you don’t need to spend developing your brand. Connect with others in your industry to gather their referrals. Most companies don’t do any of this. Figure out your margin. As much as you want to know your profit margin early on, you can’t have that until you have a product in the store. Try to be smart about your cost. How much do you have to spend on inventory and shipping? Are you buying enough inventory? How do you think you will discount to move the product? 5. Examine your advertising strategy.

4. Build relationships with suppliers and customers.

 

Start with a reputable supplier who can meet your specific needs. Keep in mind that different cell phone accessories are used by different customers. Therefore, customers have different needs, and not all of them can be met through the same supplier. Your goal is to find a supplier that’s a good fit for your business and that can deliver. With a handful of suppliers, you’ll have a better chance of satisfying your customers, especially if you’re brand new. Do your research and develop a pricing strategy. If you can identify a brand’s loyal customers, make sure to keep them happy. If your business is a new brand, consider that an important aspect of your pricing strategy.

5. Learn about the industry you’re entering.

Learn about the hardware and device you’ll be selling. Take time to talk to experienced sellers to see what they recommend. Talk to everyone you can who’s selling similar products. Ask for reviews and make sure your offering is compatible with every phone. Find out the supply chain, and the “black boxes” that are involved in manufacturing. Most large phone manufacturers use a third-party parts supplier, which is typically owned by the OEM (Original Equipment Manufacturer) that makes the phone. Learn about the supply chain you’ll be working with. The suppliers can help you find product developers, distributors, and even wholesale suppliers. You can also look into network marketing opportunities with networks like CDR Solutions. 8. Get organized.

6. Network with other entrepreneurs and professionals in your industry.

Working independently and creating a business is one thing, but you still need to build a business network. The best way to do this is to connect with other entrepreneurs and business people in your industry. This will give you an idea of how much demand there is for your product. It’s important to get a sense of the competitive landscape. You can find similar businesses by using directories such as BizRight. Use this as an inspiration for what it takes to become a business owner. Create your own directory that only your industry can see. Troubleshooting Considerations 7. What are the common problems people have with cell phone accessories? Cell phone accessories are a unique segment of the consumer market. This means there are a lot of problems and challenges that come up regularly.

7. Offer free services to build up your portfolio of work.

Your first customers are your friends and family, and you want to give them what they want. But it’s hard to predict what services they’ll want to pay you for, especially if your prices are in the premium range. The best way to get the most bang for your buck is to offer free services to build up a portfolio of work. You can provide these services for your family and friends, then start charging for them. Take my friend, Leerom Segal, for example. He makes Android Apps and offers basic website design services. His free app development services have helped him get almost 1,000 paying customers. That’s the power of freedom. Tire Design Tip: Let your customers create your promo cards and flyer templates, and keep track of all sales that occur within the month. 

 

In conclusion, choosing the right phone accessories wholesaler is crucial for your business, and the following are some aspects that need to be considered when choosing.

At HLCWholesale.com we stand behind our customers providing them with quality and fast delivery at unbeatable prices! There are many wholesale distributors that you can choose from when looking for where to buy cell phone accessories. We offer $20 off at your first wholesale order. Simply use code: HLC20 when placing your first order.